Финансово-консалтинговая компания CYWORLD WEALTH

Curacao temporarily relaxes tax holidays for development

01 Jul
Curacao temporarily relaxes tax holidays for development Advocate Cyprus Advocate Cyprus

Curacao temporarily relaxes tax holidays for development

Curacao temporarily relaxes tax holidays for development

On June 21, 2021, the Ministry of Finance of Curacao announced a decision to soften the conditions of tax breaks for property (land) development. One of the main conditions for tax holidays is that at least 80% of residences in real estate are sold or leased to foreigners. However, due to the impact of the COVID-19 pandemic, it has become difficult for investors to meet this condition. As a result, it was decided to reduce the cost of fulfilling this condition by at least 20%. Discount is valid until further notice.

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